News that Federal Express (FDX) lowers guidance and is coming clean about its rising input costs (apparently, tis the season to come clean in lots of businesses) could be the tip of the iceberg that is providing clues to us about expectations ahead of the forthcoming holiday season. In any case, have a look at the BIG picture view of FDX, which is in a powerful correction that has a way to travel on the downside prior to completion and which likely is reflection of a softer than expected US economy now and going forward.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.